Shareholders of Riyadh Cables Group Co. approved the board’s recommendation on a 15% cash dividend, or SAR 1.5 per share, for 2022 during the extraordinary general meeting (EGM) held on June 20.
|
Dividend Details (2022) |
|
|
Current Capital |
SAR 1.50 bln |
|
Number of Shares |
150 mln |
|
Total Dividend |
SAR 225 mln |
|
Percentage of Capital |
15% (SAR 1.5 a share) |
|
Record Date |
June 20 (Shareholders registered with Edaa on the second day of trading following the EGM date) |
|
Payment Date |
Within 15 days from the EGM date |
In a statement to Tadawul, the company said shareholders also approved an employee stock incentive program and delegated the board to set the relevant terms and allocation price per share.
Shareholders also gave the go-ahead for the buyback of 500,000 shares maximum, to be allocated to the long-term employee stock incentive program. The share buyback will be financed from the company's internal resources.
The company shall retain the repurchased shares for a maximum period of five years from the shareholders’ approval date until they are allocated to eligible employees.
After that period, the company shall follow the procedures and regulations stipulated in the relevant laws and regulations.
Riyadh Cables board was also authorized to pay interim, semi-annual, or quarterly dividends for 2023.
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 12/03/2023 | 20/06/2023 | 13/07/2023 | 225.00 | 1.50 |
| Consolidated cash dividend | Cash dividend per share (SAR) | * The stock price at the beginning of the period (SAR) | Return on the base price |
|---|---|---|---|
| Last 3 Financial years | N/A | N/A | N/A |
| Last 5 Financial years | N/A | N/A | N/A |
| Last 10 Financial years | N/A | N/A | N/A |
| P/E (TTM) | 27.51 |
| P/E Before Unusual Items (TTM) | 26.99 |
| P/BV | 6.83 |
| Dividend Yield | 2.70 % |
| Market Cap. (M) | 16,410.00 |
| Return on Average Assets | 10.93 % |
| Return on Average Equity | 26.31 % |
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